August 8, 2024
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Ceigall India IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com,
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What is the latest news relating to Ceigall India IPO?
The scrip is listed at Rs. 419, premium of only 4.49% over the issue price. The listing has been below the expectations of the grey market.
What is the latest GMP of Ceigall India IPO?
Grey market is expected to have good fancy for the IPO.
Ceigall India IPO Subscription Status
Ceigall India IPO Subscriptions (Closed)Price Rs. 401 Lot 37 shares, Rs. 894.78 Crore |
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| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 31.26 | 16.28 | 11.92 | 14.83 | 3.82 | 14.01 |
| Applications: 1428173 / (41.44x) Amount wise Bids recd. Rs. 12526.92 Crore |
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Who are the promoters of Ceigall India IPO?
THE PROMOTERS OF THE COMPANY ARE RAMNEEK SEHGAL, RAMNEEK SEHGAL AND SONS HUF AND RS FAMILY TRUST
What are the Objects of Ceigall India IPO?
The Offer comprises of the Fresh Issue and the Offer for Sale.
The Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Purchase of equipment;
2. Repayment/ prepayment, in full or in part, of certain borrowings availed by the Company and its Subsidiary, CIPPL; and
3. General corporate purposes.
What is the business of Ceigall India?
Ceigall India is an infrastructure construction company with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways. It is one of the fastest growing engineering, procurement and construction (“EPC”) company in terms of three-year revenue CAGR as of Fiscal 2023, among the companies with a turnover of over Rs. 10,000 million in Fiscal 2023. It has achieved the highest year-on-year revenue growth of 82.67% in Fiscal 2023 among the peers. It has grown at a CAGR of 37.65% between Fiscals 2020 to 2023.
Over the last two decades, the Company has transitioned from a small construction company to an established EPC player, demonstrating expertise in the design and construction of various road and highway projects including specialised structures across 10 states in India. Its revenue from operations has increased significantly from Rs. 8,732.02 million in Fiscal 2021 to Rs. 20,681.68 million in Fiscal 2023 and to Rs. 20,857.62 million in the nine months ended December 31, 2023.
Business operations are broadly divided into…
Its principal business operations are broadly divided into EPC projects and hybrid annuity model (“HAM”) projects, which are spread over ten states in India. One of its initial road projects that it executed for the Punjab Public Works Department, Ludhiana division, was awarded in 2006 with an aggregate project cost of Rs. 62.94 million for 20.42 lane km. In 2014, it wa awarded the first four lane highway EPC project from NHAI for 24.08 lane km with a project cost of Rs. 378.10 million and the most recent four lane elevated corridor EPC project, which consists of one of the longest four lane elevated corridor portion of 14.26 kms in India as per CARE Report, was awarded by NHAI with a project cost of Rs. 19,693.90 million and total length of 100.32 lane km.
Eligible to bid
It is eligible to bid for single NHAI EPC projects up to a value of Rs. 35,000.00 million and for single NHAI HAM projects up to a value of Rs. 32,000.00 million. It has been empanelled to participate with the Delhi Metro Rail Corporation Limited in its upcoming tenders involving inter alia construction of railways, mega bridges and tunnels in India and abroad and also with a public sector undertaking for highways, bridges and tunnel construction work in north-eastern states of India, and such empanelment is mutually extendable.
The Company has completed over 34 projects, including 16 EPC and one HAM project, in the roads and highways sector. Currently, the Company has 15 ongoing projects, including 11 EPC projects and four HAM projects which includes elevated corridors, bridges, flyovers.
For more information, click www.ceigall.com
Ceigall India IPO GMP grey market premium, review, Subscription, allotment, listing
Ceigall India IPO Details |
|
| IPO opens on | 1 August 2024 |
| IPO closes on | 5 August 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 31238480 Shares / Rs 1252.66 Crore |
| * Fresh Issue | 17063640 Shares / Rs 684.25 Crore |
| * Offer for Sale | 14,174840 Shares / Rs 568.41 Crore |
| Face Value per share: | Rs. 5 |
| Price Band | Rs. 380-401 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 37 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Ceigall India? | Shares | Rs. in Crore |
| QIB (50 %) | 15619240 | 626.33 |
| NII (15 %) | 4685772 | 187.90 |
| RII (35 %) | 10933468 | 438.43 |
| Employees | – | – |
| Total Shares | 31238480 | 1252.66 |
| Retail portion will be oversubscribed by | ? Forms. | |
| How to apply in Ceigall India IPO? |
Amount Rs. |
|
| Min Retail Application | 37 Shares | 14837 |
| Max Retail Application | 481 Shares | 192881 |
| Small HNI (Min) application | 518 Shares | 207718 |
| Small HNI (Max) application | 2479 Shares | 994079 |
| Big HNI Application | 2516 Shares | 1008916 |
What is the timetable of Ceigall India IPO? |
|
| IPO opens on | 1 August 2024 |
| IPO Closes on | 5 August 2024 |
| IPO Allotment on | 6 August 2024 |
| Unblocking of ASBA | 7 August 2024 |
| Credit of Shares | 7 August 2024 |
| Listing on | 8 August 2024 |
| Registered Office of the company | |
| A-898, Tagore Nagar, Ludhiana 141 001, Punjab, India | |
| Lead Managers of the IPO ICICI Securities Limited IIFL Securities Limited JM Financial Limited |
|
| Registrar to IPO | |
| Link Intime India Private Limited |
Ceigall India IPO Financial & Analytical Ratios |
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| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Crore | Rs.in Cr | Rs. | % | |
| 2021-22 | 1146 | 125.86 | 8.01 | 29 |
| 2022-23 | 2087 | 167.27 | 10.65 | 28 |
| 2023-24 9M | 3066 | 305 | 19.37 | 33.57 |
| Book Value of the Share on 31.03.2024 |
Rs. | 57.68 | ||
| BV of the Share after the FPO |
Rs. | ? | ||
| Offer Price at Cap | Rs. | 401 | ||
Ceigall India IPO
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| Price /EPS | ? |
| Price/Book Value Ratio | ? |
| Price/BV after IPO | ? |
How Ceigall India IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Ceigall India | 5 | 3029 | ? |
| PNC Infratech | 2 | 8650 | 17.75 |
| G.R Infra projects | 5 | 8980 | 12.60 |
| HG Infra Projects | 10 | 5378 | 20.43 |
| KNR Construction | 2 | 4429 | 13.17 |
| ITD Cementation | 1 | 7718 | 29.39 |
| J.Kumar Infra | 5 | 4879 | 19.68 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Ceigall India IPO Review
This is the much-awaited IPO. Once the price band is finalized, we will provide our guidance.
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